On 1 November 2021, the company rate of income tax was changed from 35% to 30%. At the previous reporting date (30 June 2021) Montgomery Limited had the following tax balances: Deferred tax assets $33 500
Deferred tax liabilities $18 000
What is the impact of the tax rate change on income tax expense?

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The Answer of On 1 November 2021, the company rate of income tax was changed from 35% to 30%. At the previous reporting date (30 June 2021) Montgomery Limited had the following tax balances: Deferred tax assets $33 500
Deferred tax liabilities $18 000
What is the impact of the tax rate change on income tax expense?

On 1 November 2021, the Company Rate of Income Tax